Repairs to roads and footpaths will cost up to £256m, while the ongoing fixing of street lights will cost £93m bill and dealing with drainage problems could add another £50m.
Cllr Malcolm Kennedy, cabinet member for transport, told the Liverpool Echo: “The roads are in a rather poor state because of underinvestment both locally and nationally.
“Our officers are working on a plan to invest a serious amount of money – by no means the full amount, but up to £50m, which will stop our roads deteriorating further.”